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(Z0) Rebound Reinstates Bullish Focus

GILT TECHS
  • RES 4: 136.97 High Oct 16 and the bull trigger
  • RES 3: 136.38 Low Oct 20 and a gap high on the daily chart
  • RES 2: 136.37 High Oct 29
  • RES 1: 136.19 High Nov 2
  • PRICE: 136.07 @ Close Nov 2
  • SUP 1: 135.50 Low Nov 2
  • SUP 2: 135.34 Low Oct 27
  • SUP 3: 135.04 Low Oct 23 and the near-term bear trigger
  • SUP 4: 134.99 1.00 proj of Sep 21 - Oct 7 downleg from Oct 16 high

Strong gains last week were somewhat neutralised Friday following a sharp pullback. However yesterday's gains have reinstated a bullish focus and futures have held above support at 135.34, Oct 27 low. Attention is on 136.38, Oct 20 low where a print would fill a gap in the chart. This would also expose key resistance at 136.97, Oct 16 high. On the downside, sub 135.50/34 levels would instead expose the key support at 135.04, Oct 23 low.

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